# ![@beyond_mental Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1280280883065430020.png) @beyond_mental beyond mental models

beyond mental models posts on X about $csgp, $zg, $dg, $googl the most. They currently have [-----] followers and [---] posts still getting attention that total [--] engagements in the last [--] hours.

### Engagements: [--] [#](/creator/twitter::1280280883065430020/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1280280883065430020/c:line/m:interactions.svg)

- [--] Week [---] +122%
- [--] Month [-----] -21%
- [--] Months [------] +261%
- [--] Year [------] -68%

### Mentions: [--] [#](/creator/twitter::1280280883065430020/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1280280883065430020/c:line/m:posts_active.svg)

- [--] Month [--] -23%
- [--] Months [--] +30%
- [--] Year [--] -48%

### Followers: [-----] [#](/creator/twitter::1280280883065430020/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1280280883065430020/c:line/m:followers.svg)

- [--] Week [-----] +0.06%
- [--] Month [-----] +0.11%
- [--] Months [-----] +0.81%
- [--] Year [-----] +1.50%

### CreatorRank: undefined [#](/creator/twitter::1280280883065430020/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1280280883065430020/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[stocks](/list/stocks)  81% [finance](/list/finance)  26% [technology brands](/list/technology-brands)  13% [cryptocurrencies](/list/cryptocurrencies)  12% [countries](/list/countries)  3% [currencies](/list/currencies)  3% [social networks](/list/social-networks)  1% [fashion brands](/list/fashion-brands)  1% [financial services](/list/financial-services)  1%

**Social topic influence**
[$csgp](/topic/$csgp) #20, [$zg](/topic/$zg) 8%, [$dg](/topic/$dg) 7%, [$googl](/topic/$googl) 5%, [$dhi](/topic/$dhi) 5%, [$jdep](/topic/$jdep) 5%, [ceo](/topic/ceo) 4%, [$shw](/topic/$shw) 4%, [$swma](/topic/$swma) 4%, [business](/topic/business) 4%

**Top accounts mentioned or mentioned by**
[@lhamtil](/creator/undefined) [@postmarket](/creator/undefined) [@barryschwartzbw](/creator/undefined) [@speedwellllc](/creator/undefined) [@thegarpinvestor](/creator/undefined) [@kouroshshafi](/creator/undefined) [@alessvat](/creator/undefined) [@gavinsbaker](/creator/undefined) [@davideborall](/creator/undefined) [@jmihaljevic](/creator/undefined) [@tidefallcapital](/creator/undefined) [@altcap](/creator/undefined) [@bgurley](/creator/undefined) [@rickpalaciosjr](/creator/undefined) [@lrabagoo](/creator/undefined) [@charlesgoodnig1](/creator/undefined) [@borrowedideas](/creator/undefined) [@incrementalroi](/creator/undefined) [@longequity](/creator/undefined) [@jschmanathan](/creator/undefined)

**Top assets mentioned**
[CoStar Group, Inc. (CSGP)](/topic/$csgp) [Zillow Group, Inc. (ZG)](/topic/$zg) [Decentral Games (DG)](/topic/$dg) [Alphabet Inc Class A (GOOGL)](/topic/$googl) [D R Horton Inc (DHI)](/topic/$dhi) [Sherwin-Williams Co (SHW)](/topic/$shw) [Booking Holdings Inc (BKNG)](/topic/$bkng) [Amazon.com, Inc. (AMZN)](/topic/$amzn) [Walmart, Inc. (WMT)](/topic/$wmt) [Lowes Companies Inc (LOW)](/topic/$low) [Fair Isaac, Corp. (FICO)](/topic/$fico) [Philip Morris International Inc. (PM)](/topic/$pm) [NVR, Inc. (NVR)](/topic/$nvr) [PulteGroup, Inc. (PHM)](/topic/$phm) [International Flavors & Fragrances Inc (IFF)](/topic/$iff) [Salesforce Inc (CRM)](/topic/$crm) [TJX Companies, Inc. (TJX)](/topic/$tjx) [Toll Brothers, Inc. (TOL)](/topic/$tol) [Lennar Corporation (LEN)](/topic/$len) [Floor & Decor Holdings, Inc. (FND)](/topic/$fnd) [Home Depot, Inc. (HD)](/topic/$hd) [Dollar Tree Inc (DLTR)](/topic/$dltr) [Shopify Inc (SHOP)](/topic/$shop) [Costco Hot Dog (COST)](/topic/$cost) [Retail (RETAIL)](/topic/retail) [T-Mobile (TMUS)](/topic/$tmus) [AT&T Inc. (T)](/topic/$t) [Celsius Holdings, Inc. Common Stock (CELH)](/topic/$celh) [Microsoft Corp. (MSFT)](/topic/$msft) [Nomad Foods Limited (NOMD)](/topic/$nomd) [COTY INC (COTY)](/topic/$coty) [Krispy Kreme, Inc. (DNUT)](/topic/$dnut) [Trex Company, Inc. (TREX)](/topic/$trex) [Advanced Drainage Systems, Inc. (WMS)](/topic/$wms) [AZEK Co Inc. (AZEK)](/topic/$azek) [Altria Group Inc (MO)](/topic/$mo) [Masco, Corp. (MAS)](/topic/$mas) [Agoric (BLD)](/topic/$bld) [INSTALLED BUILDING PRODUCTS, INC. (IBP)](/topic/$ibp) [Neurobro (BRO)](/topic/$bro)
### Top Social Posts
Top posts by engagements in the last [--] hours

"A SaaS or Consumer Internet company announcing something with almighty OAI is not getting same reaction from the market vs a supplier that sells to OAI. It is legit fear that OAI will disrupt you or raise CAC. $CRM $ZG $BKNG come to mind. $SHOP is an exception so far"  
[X Link](https://x.com/beyond_mental/status/1978447622827372891)  2025-10-15T13:07Z [----] followers, [----] engagements


"If $CSGP gets similar outcome on $ZG lawsuit then it will be disastrous for $ZG"  
[X Link](https://x.com/beyond_mental/status/1983325433665147199)  2025-10-29T00:10Z [----] followers, [----] engagements


"$CSGP learning a lesson after disastrous 8K and [----] adj EBITDA target. Now talking about 35% EBITDA% by [----] and $2.3bn EBITDA. Stock should be up on this"  
[X Link](https://x.com/beyond_mental/status/2011279212465045964)  2026-01-14T03:28Z [----] followers, [----] engagements


"Third Point coming in to force Andy to stop the clown show. $CSGP [----] adj EBITDA guide is well below where street is despite cutting https://t.co/o77bpOozhC burn. Clearly $CSGP has become a capital destruction machine. Still surprised that CEO does not get the message. If I am an activist $CSGP is ripe for a management change. [----] adj EBITDA guide is well below where street is despite cutting https://t.co/o77bpOozhC burn. Clearly $CSGP has become a capital destruction machine. Still surprised that CEO does not get the message. If I am an activist $CSGP is ripe for a management change"  
[X Link](https://x.com/beyond_mental/status/2016168448783450616)  2026-01-27T15:16Z [----] followers, [---] engagements


"$AMZN now trading at 1/2 $WMT's [----] multiple. This is despite closing the gap on retail margins. Capex of $200bn in [----] and likely higher in [----] is humungous relative to $25bn that $WMT will be doing"  
[X Link](https://x.com/beyond_mental/status/2020913277518188571)  2026-02-09T17:30Z [----] followers, [---] engagements


"@kouroshshafi There is also not a large beer loving Hispanic population in Canada"  
[X Link](https://x.com/beyond_mental/status/1779710006121615647)  2024-04-15T03:15Z [----] followers, [--] engagements


"This $SHW's moat: Paint contractors like shopping at paint stores and $SHW is a beast there. With $PPG out share gains likely accelerate. 68% pros consider $SHW #1 choice and 90% consider $SHW in top 3"  
[X Link](https://x.com/beyond_mental/status/1782450325707796663)  2024-04-22T16:44Z [----] followers, [----] engagements


"@alessvat $PPG unit economics is so much inferior than $SHW. $SHW generates 20%+ EBITDA margins in their paint stores group"  
[X Link](https://x.com/beyond_mental/status/1782522261691408569)  2024-04-22T21:29Z [----] followers, [---] engagements


"Not sure how $XLP will beat the market. They work once in [--] years when we get macro worries and then bleed that one year performance. $PEP is better one in the lot still not gonna beat the market. Packaged food is horrible of the lot. PepsiCo reported sales grew 2% to $18.3 bil in Q1 just ahead of consensus estimates. North America Beverage sales were up 1% in qtr as a 6% price increase offset its 5% volume decline. PepsiCo reported sales grew 2% to $18.3 bil in Q1 just ahead of consensus estimates. North America Beverage sales were up 1% in qtr as a 6% price increase offset its 5% volume"  
[X Link](https://x.com/beyond_mental/status/1782797837723390195)  2024-04-23T15:45Z [----] followers, [---] engagements


"Market perceived $MTTR to be a spac shitco. Andy thinks he got a gem of an asset or so you have to say when you pay 9x EV/Sales. I am not so educated to comment on $MTTR if Andy is right then he is a real 🐐 $CSGP"  
[X Link](https://x.com/beyond_mental/status/1782922903534682170)  2024-04-24T00:01Z [----] followers, [---] engagements


"@GavinSBaker It was surprising to see $PHM and $DHI raised their closings guidance when they reported. Builders are seeing slower traffic but demand is not collapsing"  
[X Link](https://x.com/beyond_mental/status/1784736552926449809)  2024-04-29T00:08Z [----] followers, [---] engagements


"$CSGP under pressure as growth is slowing. http://Homes.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1796235699923955742)  2024-05-30T17:42Z [----] followers, [---] engagements


"$META continues to crush the competition despite its size. Call it AI prowess or call it Zuck prowess $META is widening the gap"  
[X Link](https://x.com/beyond_mental/status/1828115708141588590)  2024-08-26T17:02Z [----] followers, 19.7K engagements


"@BarrySchwartzBW The core biz of $CSGP is slower growth now vs history some discount is warranted. What matters more is whether scales and at what level of investment. If it fails to scale then lower multiple is warranted. If it scales then stock has 50% upside easily. http://homes.com http://homes.com"  
[X Link](https://x.com/beyond_mental/status/1828134348731916386)  2024-08-26T18:16Z [----] followers, [---] engagements


"Incremental ROIC for $META $GOOGL $AMZN and $MSFT over last [--] quarters remained resilient. But we are beginning to see the step down as capex has started to pick-up. 80%+ ROIIC for $META and $GOOGL will not be seen for next 2yrs. Hope is it happens at some point in next 5"  
[X Link](https://x.com/beyond_mental/status/1828808067942629743)  2024-08-28T14:53Z [----] followers, [---] engagements


"Todd is still running $DG and stock is imploding after another cut to numbers. $DG's years of under investments happened under Vasos. Investors own $DG as a defensive play on consumer. $FND (cyclical) has done better as a stock vs $DG/ $DLTR despite higher rates. Now Todd Vados is back and Jeff Owen is out. I don't think that issues with $DG were completely doing of Jeff Owen. These under investments come to fruition over the years Now Todd Vados is back and Jeff Owen is out. I don't think that issues with $DG were completely doing of Jeff Owen. These under investments come to fruition over"  
[X Link](https://x.com/beyond_mental/status/1829116632930598976)  2024-08-29T11:19Z [----] followers, [----] engagements


"@davideborall Don't think it is Temu. It is under invested and badly run stores. Things are falling apart and shrink is high as stores are not adequately staffed. $DG and $DLTR have both under invested market loved it when $DG was buying back aggressively instead of investing in stores"  
[X Link](https://x.com/beyond_mental/status/1829137839600042365)  2024-08-29T12:43Z [----] followers, [---] engagements


"DOJ crackdown on NAR and MLS is showing some impact. Supply side/listings of the real estate market is commoditized due to MLS it will be big for $ZG and $CSGP if MLS becomes less relevant and portals consolidate supply side. $CSGP has most to gain from this disruption"  
[X Link](https://x.com/beyond_mental/status/1829147374859759760)  2024-08-29T13:21Z [----] followers, [----] engagements


"@JMihaljevic $DG under invested in their stores massively. If you feel the same for $COST then it is a red flag. IMO $COST does not face big under investment issue (maybe e-comm is not as good)"  
[X Link](https://x.com/beyond_mental/status/1829478468867744076)  2024-08-30T11:17Z [----] followers, [---] engagements


"$TJX has been an exceptional retail concept. In last [--] months $BURL has shown evidence of improved with the aim to close its performance gap vs $TJX and $ROST. If it executes on its plan $BURL can deliver 25% EPS growth over next [--] years. Reminds me of $LOW in 2018"  
[X Link](https://x.com/beyond_mental/status/1829626113854681387)  2024-08-30T21:03Z [----] followers, [----] engagements


"Despite having lowest ARPU in the world both #RelianceIndustries and #BhartiAirtel have been good stocks. Not seen many markets where investing in #2 telecom player has been a good investment decision. $TMUS has done well but $T has not been a great stock in last [--] years"  
[X Link](https://x.com/beyond_mental/status/1830047903173234748)  2024-09-01T00:59Z [----] followers, [---] engagements


"If $CSGP is able to make OnTheMarket a credible #2 in UK market then it will be a decent sized optionality to which market assigns no value. UKs Rightmove targeted for takeover offer by News Corps REA https://t.co/Yjmf42s7nl UKs Rightmove targeted for takeover offer by News Corps REA https://t.co/Yjmf42s7nl"  
[X Link](https://x.com/beyond_mental/status/1830983514147430594)  2024-09-03T14:57Z [----] followers, [---] engagements


"Carnage among dollar stores is incredible. $DLTR / $DG were likely hiding places in a slowing consumer. Underinvestments in labor/stores are coming back to haunt $DG/ $DLTR. Who would have thought that home builders will be better stocks than dollar stores in a rate hike cycle. Todd is still running $DG and stock is imploding after another cut to numbers. $DG's years of under investments happened under Vasos. Investors own $DG as a defensive play on consumer. $FND (cyclical) has done better as a stock vs $DG/ $DLTR despite higher rates. Todd is still running $DG and stock is imploding after"  
[X Link](https://x.com/beyond_mental/status/1831319501293666751)  2024-09-04T13:12Z [----] followers, [---] engagements


"@TidefallCapital And they want to open more boxes . $DG is horribly underinvested"  
[X Link](https://x.com/beyond_mental/status/1831800644531056655)  2024-09-05T21:04Z [----] followers, [---] engagements


"This is interesting and very reasonable assumptions for $GOOGL SOTP. Search valued at no growth consumer internet biz YouTube valued at 1-2x discount to $NFLX and GCP at 6x sales. Put it all together we get $135 as back-up the truck price"  
[X Link](https://x.com/beyond_mental/status/1839300569317671120)  2024-09-26T13:46Z [----] followers, [---] engagements


"Interesting discussion on valuation framework for Open AI. It has scaled revenues faster than $META and $GOOGL. But unlikely it has advertising biz type gross margins due to compute intensive nature of AI. $AMZN's AWS probably the right proxy for valuation framework. BG2 Ep16. Nuclear OpenAI Breaking Out State of VC Public Mkts & more. 👊💥 @altcap @bgurley (00:00) Intro (00:36) The U.S. Nuclear Renaissance (08:15) AI Fast and Furious (11:19) OpenAI Strawberry o1 (17:15) Inference Constraints (20:18) Open AI Breaking Out (35:00) https://t.co/yxnzQWgjjc BG2 Ep16. Nuclear OpenAI Breaking Out"  
[X Link](https://x.com/beyond_mental/status/1840873997442990125)  2024-09-30T21:58Z [----] followers, [---] engagements


"When you run a 3-5% margin biz losing 5% quality bonus is disastrous to EPS. $HUM may see 70% of [----] EPS getting wiped out due to drop in [--] star plans"  
[X Link](https://x.com/beyond_mental/status/1841476984590778607)  2024-10-02T13:55Z [----] followers, [----] engagements


"$FICO is a true toll road biz with 90% share. Not much volume growth but $FICO raises price by 15%/year with 90% incremental margins on scoring. $FICO charges $3 per transaction so pricing can continue to climb by 10-15%/ yr. Stock was a BNPL loser in [----] 4x since then"  
[X Link](https://x.com/beyond_mental/status/1841559377393623435)  2024-10-02T19:22Z [----] followers, [---] engagements


"$HUM has 44% of members in one plan and they lost [--] star rating on this plan by one metric. When you run a 3-5% margin biz losing 5% quality bonus is disastrous to EPS. $HUM may see 70% of [----] EPS getting wiped out due to drop in [--] star plans. https://t.co/E9sQwAs5I7 When you run a 3-5% margin biz losing 5% quality bonus is disastrous to EPS. $HUM may see 70% of [----] EPS getting wiped out due to drop in [--] star plans. https://t.co/E9sQwAs5I7"  
[X Link](https://x.com/beyond_mental/status/1841562428514951443)  2024-10-02T19:34Z [----] followers, [---] engagements


"2/ SwiggyOne users (similar to $Uber's UberOne) have a platform frequency of 7.4x compared to the average platform frequency of 4.5x for Swiggy. In Quick Commerce #Zomato is more scaled. Remember Zomato bought Blinkit vs Swiggy Instamart is largely organically grown"  
[X Link](https://x.com/beyond_mental/status/1842252951810609174)  2024-10-04T17:18Z [----] followers, [---] engagements


"@RickPalaciosJr How much of it is hurricane impacting demand in FL Vs real slowdown in demand Ne home sales fell in FL the most"  
[X Link](https://x.com/beyond_mental/status/1864687856322503047)  2024-12-05T15:06Z [----] followers, [---] engagements


"Consensus view [--] months ago was that $CSGP will decimate $ZG with launch of It seems $ZG is nibbling into share. Zillow rentals now $453mm business and guided to grow 30% in [----]. Disruptor is getting disrupted here http://Apartments.com http://Homes.com http://Apartments.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1889692337309114819)  2025-02-12T15:05Z [----] followers, [---] engagements


"@LrabagoO I will agree to that given vacancy rates are high and we have more supply hitting the market. But the gap b/w the two platforms is narrowing fast. $ZG has 50k properties vs $CSGP at 80k"  
[X Link](https://x.com/beyond_mental/status/1889707348681253199)  2025-02-12T16:05Z [----] followers, [---] engagements


"Yet another year of Resi investments. Andy destroying an otherwise good business. $CSGP continues to bleed"  
[X Link](https://x.com/beyond_mental/status/1891960913332261350)  2025-02-18T21:20Z [----] followers, [----] engagements


"Builders were supposed to behave differently this cycle. Did so for [--] years now we are back to what always happen: builders build too many specs = excess supply = GM% decimation and eventual impairments. Sell the builders at 2x TBV trade still works. $DHI $LEN A key comment from the Toll Brothers call this morning was how homebuilders have become part of the excess supply problem in places (not just the resale market). The strongest housing markets today are where builders didnt get to build much this cycle. $TOL https://t.co/SaFckSyRAd A key comment from the Toll Brothers call this morning"  
[X Link](https://x.com/beyond_mental/status/1892429474009931954)  2025-02-20T04:22Z [----] followers, [---] engagements


"$FND - first big beat in 2+ years. SSS went from -4% in Oct to +1.2% NOV/DEC. All this happened despite rates staying elevated. It seems like COVID pull forward has been fully digested and demand is no longer deteriorating . $HD/ $FND/ $LOW"  
[X Link](https://x.com/beyond_mental/status/1892788663819309265)  2025-02-21T04:09Z [----] followers, [---] engagements


"Andy again shit talking his competitors on the call while is going nowhere and he keeps acquiring shit cos. $CSGP http://Homes.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1917587868509212760)  2025-04-30T14:32Z [----] followers, [---] engagements


"Because $FICO takes 50% pricing and all credit bureaus get their cut of it. Why do some credit reports cost double (Bidens term) from what they did during President Trumps first term Why do some credit reports cost double (Bidens term) from what they did during President Trumps first term"  
[X Link](https://x.com/beyond_mental/status/1925195029204632038)  2025-05-21T14:20Z [----] followers, [---] engagements


"Listen to one of the $FICO earnings call and you will see how management boasts about taking 50% pricing per year. Thanks for input. Still not happy with FICO. We should be making some decisions on all related items in next 1-3 weeks. Thanks for input. Still not happy with FICO. We should be making some decisions on all related items in next 1-3 weeks"  
[X Link](https://x.com/beyond_mental/status/1927439625280462894)  2025-05-27T18:59Z [----] followers, [---] engagements


"$SHW is freezing 401K contributions denoting sales reps and getting rid of store labor. $SHW is the best run company among building producta companies. It seems it is ugly for housing and can get uglier if we don't see mortgage rates come down"  
[X Link](https://x.com/beyond_mental/status/1965972060917870759)  2025-09-11T02:53Z [----] followers, [--] engagements


"Core Celsius sales seems to be hitting a plateau at 9% market share. Numbers still look good when factoring Alani Nu as part of $CELH. Don't have high hopes from Rockstar as the brand continues to stagnate at 2% market share"  
[X Link](https://x.com/beyond_mental/status/1967980152329285733)  2025-09-16T15:53Z [----] followers, [----] engagements


"$ORCL's infra capex will likely be debt funded and that can take AI capex spend to bubble type levels as $AMZN $GOOGL and $MSFT spend more to protect their share. Hyperscalers have used cash flows to fund capex but they may soon have to take things a notch higher"  
[X Link](https://x.com/beyond_mental/status/1968044566067679724)  2025-09-16T20:09Z [----] followers, [---] engagements


"3. Covid is a ST tailwnd but [--] frzn it cn elevate grwth prmntly. Covid hs led [--] incrsd trial & millennials r loving it. If u will wrk 4m hm more often you will consume food at home more often. And frozen is healthy & convenient. Chck wht mgmt hs [--] say at DB conf. in Jun"  
[X Link](https://x.com/beyond_mental/status/1286460974673862661)  2020-07-24T00:39Z [----] followers, [--] engagements


"4. Run with a pvt equity mindset M&A is imp. part of strategy. $NOMD is an indstry consolidator in European frzn fd mkt with a track record of acquiring assets at cheap valuations integrating them & deriving synergies (EBITDA mrgns expanded by [---] bps b/w [----] & 2019)"  
[X Link](https://x.com/beyond_mental/status/1286460981267312643)  2020-07-24T00:39Z [----] followers, [--] engagements


"@lhamtil Reminds me of Givaudan & Symrise. Small part of total product cost (2%-5%) but key ingredients in product formulation. https://x.com/beyond_mental/status/1293814892143706112 https://x.com/beyond_mental/status/1293814892143706112"  
[X Link](https://x.com/beyond_mental/status/1421966171553796098)  2021-08-01T22:48Z [----] followers, [--] engagements


"@Post_Market There are many chinks in $JDEP story - $NESN taking mkt share in Europe. CEO leaving for the weirdest of reason and in all likelihood JAB did not make much money after taking it pvt (rather my math suggested that at IPO price they at best made 5-7% IRR)"  
[X Link](https://x.com/beyond_mental/status/1423002784341835777)  2021-08-04T19:27Z [----] followers, [--] engagements


"@CharlesGoodnig1 @Post_Market If you look at the multiples & $ that JAB paid for consolidating coffee assets across the world and the multiple/valuation at which $JDEP was listed at it is hard to make the math work. Even if you assume dividends that JAB paid itself hard to come-up with anything MSD IRR"  
[X Link](https://x.com/beyond_mental/status/1423004407604580353)  2021-08-04T19:34Z [----] followers, [--] engagements


"@Post_Market Another gem from JAB playbook. Still don't understand how they allocate capital. $COTY $JDEP $DNUT.list goes on. If I look at the portfolio Panera is the only crown jewel"  
[X Link](https://x.com/beyond_mental/status/1429901441406324738)  2021-08-23T20:20Z [----] followers, [--] engagements


"@lhamtil Starbucks deal was darn good it really helped $NESN to plug the gap in the portfolio. Nespresso was a premium product they did not have mainstream pods in retail and $JDEP was taking market share. Starbucks deal helped fix all that"  
[X Link](https://x.com/beyond_mental/status/1433042474675675141)  2021-09-01T12:22Z [----] followers, [--] engagements


"@lhamtil $WMS had an analyst day this morning it is a material conversion story similar to $AZEK and $TREX"  
[X Link](https://x.com/beyond_mental/status/1502016820236144641)  2022-03-10T20:21Z [----] followers, [--] engagements


"@lhamtil $SWMA gets them everything - distribution + great products. They will do everything to get their hands on it"  
[X Link](https://x.com/beyond_mental/status/1575523396397539331)  2022-09-29T16:30Z [----] followers, [--] engagements


"Covering anything cyclical is such a brain damaging experience. Missing my $SWMA $PM"  
[X Link](https://x.com/beyond_mental/status/1580254820643966981)  2022-10-12T17:51Z [----] followers, [--] engagements


"Many are thrilled by $MO getting a $2.7bn for doing nothing. But this lowers $MO terminal value it is just a better version of Imperial now. This makes $PM take control of its destiny with $SWMA getting them distribution & best shot at most profitable tobacco market in world"  
[X Link](https://x.com/beyond_mental/status/1583094262148739072)  2022-10-20T13:54Z [----] followers, [--] engagements


"It is all about risk management. Doling out money is easy but doing so while maintaining risk guardrails is tough. No wonder $HDFC Bank trades at 3x TBV. Lending is a tough business littered with landmines. (a) Success in lending ultimately comes down to quality of underwriting; extremely hard to walk the fine balance between opening the funnel too wide (being lax) to drive revenue versus being too conservative and denying Lending is a tough business littered with landmines. (a) Success in lending ultimately comes down to quality of underwriting; extremely hard to walk the fine balance"  
[X Link](https://x.com/beyond_mental/status/1642265046758694914)  2023-04-01T20:37Z [----] followers, [----] engagements


"$PM got a killer deal with Zyn and $SWMA. That's what good assets in hand of good management teams can do"  
[X Link](https://x.com/beyond_mental/status/1682043029589303296)  2023-07-20T15:01Z [----] followers, [---] engagements


"Imagine $MAS spun out $IBP's competitor $BLD in 2013-14 as management wanted to reduce its exposure to the new construction market. $BLD and $IBP have outperformed rest of the industry by a mile. Such has been consolidation and turn in new housing market since [----]. This morning I published a profile of $IBP which has been rolling up local insulation installation businesses since [----] and currently has a 30% share of U.S. residential completions. It's the #2 installer in the U.S. after TopBuild $BLD (40% share). https://t.co/RObtwSovPX This morning I published a profile of $IBP which has been"  
[X Link](https://x.com/beyond_mental/status/1749423278383366511)  2024-01-22T13:26Z [----] followers, [---] engagements


"$AGJ and $BRO have been pehnomenal success stories and act as toll booth for insurance underwriting. Plus they allocate capital towards consolidation. Sticky revenues + MSD growers + disciplined capital allocation = compounding of returns. Today's episode is on Arthur J. Gallagher the 3rd largest insurance broker in the world. The business has grown every year for the past [--] decades. (With one exception 2020). Learn how industry dynamics M&A and the Gallagher Way have powered this compounding machine. https://t.co/cITVvqXNne Today's episode is on Arthur J. Gallagher the 3rd largest insurance"  
[X Link](https://x.com/beyond_mental/status/1755296217993547987)  2024-02-07T18:23Z [----] followers, [---] engagements


"Hearing the same on agents are liking $CSGP's customer service vs $ZG's. Takes few hours to fix incorrect details vs weeks for other platforms. http://Homes.com What a wild ethos: We never talk to customers after we sell them $CSGP https://t.co/yfP5RWErIT http://Homes.com What a wild ethos: We never talk to customers after we sell them $CSGP https://t.co/yfP5RWErIT"  
[X Link](https://x.com/beyond_mental/status/1776223752532971799)  2024-04-05T12:21Z [----] followers, [----] engagements


"Interesting chart on where housing supply stands by builder footprint. Supply situation looks okay so far. $NVR and $TOL are best positioned $DHI and $PHM closer to mean"  
[X Link](https://x.com/beyond_mental/status/1782560421045534824)  2024-04-23T00:01Z [----] followers, [---] engagements


"For context $BURL trades at 27x CY25 EPS. Will grow EPS at mid 20s rate. $TJX grow EPS at low-teens rate and trades at similar multiple. $TJX has been an exceptional retail concept. In last [--] months $BURL has shown evidence of improved with the aim to close its performance gap vs $TJX and $ROST. If it executes on its plan $BURL can deliver 25% EPS growth over next [--] years. Reminds me of $LOW in [----]. https://t.co/hdqS7FKQvM $TJX has been an exceptional retail concept. In last [--] months $BURL has shown evidence of improved with the aim to close its performance gap vs $TJX and $ROST. If it"  
[X Link](https://x.com/beyond_mental/status/1829628177422987548)  2024-08-30T21:12Z [----] followers, [---] engagements


"Serial fraudster. $EBIX $EBIXQ https://www.prnewswire.com/in/news-releases/ebix-exits-chapter-11-and-is-debt-free-worldwide-now-302236800.html https://www.prnewswire.com/in/news-releases/ebix-exits-chapter-11-and-is-debt-free-worldwide-now-302236800.html"  
[X Link](https://x.com/beyond_mental/status/1831004350392504783)  2024-09-03T16:20Z [----] followers, [---] engagements


"Anything linked to housing turnover has been under so much pressure in last [--] years that unit demand is close to GFC lows. Mattresses and furniture are prime examples of it. Given where rates are recovery will look similar to post GFC recovery i.e a slow burn. $TPX $W $RH"  
[X Link](https://x.com/beyond_mental/status/1839132456118559070)  2024-09-26T02:38Z [----] followers, [---] engagements


"1/ Some interesting stats on $ZOMATO vs $SWIGGY ahead of later's IPO. #Zomato has 45% higher MTUs 30% higher GMV and far superior margins in food delivery. But #Swiggy is dominant in order frequency both at app level and order frequency of Zomato gold"  
[X Link](https://x.com/beyond_mental/status/1842252948060962911)  2024-10-04T17:18Z [----] followers, [---] engagements


"All in for trash talking competitor when your own product is having explosive adoption and growth. Not when you have spent $2bn and will be spending another billion with little to show in form of product adoption. $CSGP $ZG Not sure I have heard anyone sh*t talk as much as Andy Florance about a competitor during earnings call. Easily the most entertaining call I listen every quarter $CSGP https://t.co/OCAjGeaajD Not sure I have heard anyone sh*t talk as much as Andy Florance about a competitor during earnings call. Easily the most entertaining call I listen every quarter $CSGP"  
[X Link](https://x.com/beyond_mental/status/1849082180506374448)  2024-10-23T13:35Z [----] followers, [----] engagements


"Andy can trash talk $ZG fact is $ZG is crushing numbers and is throwing sales people at a product problem. $CSGP http://Homes.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1854534225837318470)  2024-11-07T14:39Z [----] followers, [---] engagements


"@borrowed_ideas I am glad they are no longer trashing $ZG. $ZG has executed well despite a tough housing market. has a product market fit problem will need some heavy lifting to fix it. This is not a problem that will get fixed by throwing sales force behind it. http://Homes.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1859071696826749346)  2024-11-20T03:10Z [----] followers, [---] engagements


"$CSGP investor day is depressing"  
[X Link](https://x.com/beyond_mental/status/1864698471497789526)  2024-12-05T15:48Z [----] followers, [----] engagements


"This is the only small positive from today's Investor Day. $CSGP"  
[X Link](https://x.com/beyond_mental/status/1864859741685489679)  2024-12-06T02:29Z [----] followers, [----] engagements


"@Speedwell_LLC Starting point for valuation is different. I would have bought $DHI and $PHM had they been trading close to book. Numbers for most builders are getting revised down. Despite recent pullback most lbig builders are trading at 1.7x TBV"  
[X Link](https://x.com/beyond_mental/status/1891959811148796264)  2025-02-18T21:15Z [----] followers, [---] engagements


"@incrementalROI @Speedwell_LLC True. BV can become less important metric when you reach a threshold where you can grow EPS despite BV staying flat. This is what happened with $NVR. As builders become asset light ROE will drive EPS/BV multiples. $NVR is at 35%+ ROE vs $DHI at 17% ROE"  
[X Link](https://x.com/beyond_mental/status/1892006299354767653)  2025-02-19T00:20Z [----] followers, [---] engagements


"1/ $CSGP adj EBITDA guide of $390mm vs street at $450mm+ Not only excessive spending is leading to profitability bleed but also is slowing from +17% growth to 11-12% growth. Raises concern that $CSGP is losing share to $ZG. http://Apartments.com http://Homes.com http://Apartments.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1892010901068304654)  2025-02-19T00:38Z [----] followers, [----] engagements


"2/ $ZG is guiding to 30% growth on a smaller base. But in absolute $ Zillow rentals will be adding $140mm to revenues in [----] vs $CSGP guiding to $120mm of incremental rental revenue"  
[X Link](https://x.com/beyond_mental/status/1892010902431350977)  2025-02-19T00:38Z [----] followers, [---] engagements


"@long_equity $CSL is biggest AI beneficiary. This is a name similar to $ANET. Volatile but 10x+ in last [--] years. Another high growth name is $ATZ (growthy consumer name)"  
[X Link](https://x.com/beyond_mental/status/1892012071547462060)  2025-02-19T00:43Z [----] followers, [---] engagements


"@JSchmanathan Even if $CSGP is not losing share is touching 45% share of their TAM of $2.6bn. Your point on law of large numbers is a valid one. http://Apartments.com http://Apartments.com"  
[X Link](https://x.com/beyond_mental/status/1892025329755000885)  2025-02-19T01:36Z [----] followers, [---] engagements


"@BarrySchwartzBW $CSGP decides to invest heavily in at start of year and then cut that spend by $50mm to manage adj EBITDA. Problem is they are spending another $850mm and guiding to $120mm of resi sales. is not working lead conversion is awful. http://Homes.com http://Homes.com http://Homes.com http://Homes.com"  
[X Link](https://x.com/beyond_mental/status/1892029355359871204)  2025-02-19T01:52Z [----] followers, [---] engagements


"$SHW is freezing 401K contributions demoting sales reps and getting rid of store labor. $SHW is the best run company in building products. It seems it is ugly for housing and can get uglier if we don't see mortgage rates come down"  
[X Link](https://x.com/beyond_mental/status/1965974712808280452)  2025-09-11T03:04Z [----] followers, [----] engagements


"Housing can have a few good years if we get some rates repreive things continue to be very depressed. $HD $FND $LOW $SGI These were good stocks post-GFC in an oligopolistic market with good pricing power"  
[X Link](https://x.com/beyond_mental/status/1966221488375345413)  2025-09-11T19:25Z [----] followers, [----] engagements


"$TRU and $EFX down 7-8% as $FICO launched mortgage direct license program allowing tri-merge resellers to deliver FICO scores directly. $FICO eating into bureau mark-up and putting in its own pocket. Not sure how bureaus will retaliate as they own the data"  
[X Link](https://x.com/beyond_mental/status/1973576940733997547)  2025-10-02T02:33Z [----] followers, [----] engagements


"Increased card penetration during pandemic would have theortically slowed $V/ $MA topline growth. But both continue to power through slowdown in penetration as they have scaled their VAS businesses. Not as juicy margin profile as networks but still very respectable margins"  
[X Link](https://x.com/beyond_mental/status/1978170297447575965)  2025-10-14T18:45Z [----] followers, [---] engagements


"@MarioGabelli Someone pitched $ABNB and $BKNG on the same theme.essentially buy NA Travel names"  
[X Link](https://x.com/beyond_mental/status/1978172292417966258)  2025-10-14T18:53Z [----] followers, [---] engagements


"$CRM is guiding to 10%+ organic growth CAGR till [----] which is an acceleration from current HSD growth rate. This growth will be accompanied by 40% adj EBIT%. Growth acceleration will be driven by AI cloud adoption + AI offerings"  
[X Link](https://x.com/beyond_mental/status/1978655457267822847)  2025-10-16T02:53Z [----] followers, [---] engagements


"@TheGarpInvestor It is not it was LDD growth ex acquisition. $CSGP has become a ROIC destruction machine"  
[X Link](https://x.com/beyond_mental/status/1983325816777035959)  2025-10-29T00:11Z [----] followers, [---] engagements


"@TheGarpInvestor History is impressive but the CEO has run a good business into ground. It is a clown show at $CSGP"  
[X Link](https://x.com/beyond_mental/status/1983335501982773704)  2025-10-29T00:50Z [----] followers, [---] engagements


"If $AMZN's retail business is valued at $WMT multiple then AWS is trading at 10.7x [----] AWS EBITDA. Maybe EV/EBIT right metric to look at given all the debate around hyperscaler depreciation schedule. AWS is trading at 17.6x [----] EBIT (not so cheap)"  
[X Link](https://x.com/beyond_mental/status/1990530233297236143)  2025-11-17T21:19Z [----] followers, [---] engagements


"$AFRM prides itself on delivering growth while keeping credit costs low and not charging any hidden fees to customers. It is amazing to see that $AFRM has 40% of its customer base as non-prime credit and yet 30+ day delinquencies that are half of other non-prime lenders"  
[X Link](https://x.com/beyond_mental/status/2007445663873630609)  2026-01-03T13:35Z [----] followers, [---] engagements


"Interesting to see that apart from mortgages which benefitted from refi boom of 2020-21 most other credit types are close to peak delinquencies. This is when unemployment is low and consumer seems fine overall. Some of it could be impact of vintages of 2020-21"  
[X Link](https://x.com/beyond_mental/status/2008041413578313925)  2026-01-05T05:02Z [----] followers, [---] engagements


"OBBA tax refund tailwind is going to be substantially smaller than what have been prior fiscal tailwinds. Historically cars and home improvement have benefitted from tax refunds. But with rates where they are it could be leisure that gets a bigger push this time. $CCL $BKNG"  
[X Link](https://x.com/beyond_mental/status/2008043135646179556)  2026-01-05T05:09Z [----] followers, [---] engagements


"2028 adj EBITDA guide is well below where street is despite cutting burn. Clearly $CSGP has become a capital destruction machine. Still surprised that CEO does not get the message. If I am an activist $CSGP is ripe for a management change. http://Homes.com $CSGP noted Homes will see significantly reduced net investment-declining from $850m in [----] to over $300m in [----] with additional $100+ million annual reductions through [----]. The company expects Homes to achieve revenue exceeding expenses by end-2029 and positive adj EBITDA http://Homes.com $CSGP noted Homes will see significantly reduced"  
[X Link](https://x.com/beyond_mental/status/2008992818883428662)  2026-01-07T20:03Z [----] followers, [----] engagements


"1/ Specialty cnsmr ingredient (SCI) cos r prt of an oligopolistic mkt wid $90bn TAM grwing @ 4%-5%. SCI stks hv bn lng-trm compounders - outper4mng chem. peers S&P [---] & consumer staples. $GIVN $CHR.CO $SYIEY r best SCI plyrs (all lstd in Europe). 👇Rsns [--] outper4mance"  
[X Link](https://x.com/beyond_mental/status/1293814892143706112)  2020-08-13T07:41Z [----] followers, [--] engagements


"2/ Rsn #1: Entry Barriers - CPG plyrs work wid trusted suppliers. Reputational damage of any quality issue is enormous. - SCI r 3%-5% of total COGS of a product. Once a given ingredient is formulated into a consumer product recipe stays same [--] life of product"  
[X Link](https://x.com/beyond_mental/status/1293814894115065856)  2020-08-13T07:41Z [----] followers, [--] engagements


"3/ Rsn #2: Dominate their niches (70% of mkt controlled by [--] plyrs) Mst SCI cos dominate a niche & invest heavily in supply chain/ R&D [--] maintain that dominance. $GIVN: Fine Fragrances $CHR.CO: Cultures & Enzymes $SYIEY: Pet fd menthol flavor & fragrances (F&F) $IFF: F&F"  
[X Link](https://x.com/beyond_mental/status/1293814895750807553)  2020-08-13T07:41Z [----] followers, [--] engagements


"6/ Rsn #6: Industry tailwinds hv allowed SCI plyrs to grow revenues ahead of staples peers such as $PG $NESN $MDLZ $K $CLX $SJM $KHC $CPB $KMB $JDEP. Outperformance wl continue as long-term thesis on SCI plyrs hold true today"  
[X Link](https://x.com/beyond_mental/status/1293814900414992384)  2020-08-13T07:41Z [----] followers, [--] engagements


"7/ Some other attributes - $GIVN $CHR.CO $SYIEY & $IFF r capital intensive biz models as inventory levels r always high [--] ensure supply security to big CPG plyrs (bt this also mks growth vry defensible) Pass thru pricing cn mk mrgn % more volatile but EBIT $ is more stable"  
[X Link](https://x.com/beyond_mental/status/1293814901954289664)  2020-08-13T07:41Z [----] followers, [--] engagements


"END/ Healthy EBITDA/ EBIT mrgN & org grwth ahead of stpls hv led [--] 40%-50% re-rtng of sector. SCI cos usd [--] trd @ chemical multiples 5-7 yrs ago. [--] yr return [--] SCI $GIVN: 305% $CHR.CO: 618% $SYIEY: 541% S&P500: 235% $XLP: 127% P.S. - I dn't like $IFF due [--] execution issues"  
[X Link](https://x.com/beyond_mental/status/1293814903128686593)  2020-08-13T07:41Z [----] followers, [--] engagements


"$DOL.TO only dollar store that continues to execute well. $DG and $DLTR have misexecuted in an environment which logically speaking should have been best for the industry. I don't think Temu is an issue it is a more resilient $WMT that is eating their lunch"  
[X Link](https://x.com/beyond_mental/status/1701918532919754765)  2023-09-13T11:19Z [----] followers, [---] engagements


"If China growth is lower for longer due to demographics then most China levered beauty companies should derate more. They will no longer be DD EPS growers growth algo slows to HSD EPS growth. $EL $OR.PA"  
[X Link](https://x.com/beyond_mental/status/1755940769364345092)  2024-02-09T13:04Z [----] followers, [---] engagements


"$DOL.TO is way ahead of $DG and $DLTR on every unit level metric. Sell 20%-45% more per sq ft GM% 1500bps ahead of $DG/ $DLTR EBIT% way ahead of other retailers Dollar stores can be a good biz if you don't run them to ground through multi-year underinvestment"  
[X Link](https://x.com/beyond_mental/status/1838315339249078491)  2024-09-23T20:31Z [----] followers, [----] engagements


"So much for saying $ZG is under siege when your own business is a clown show. $CSGP If $CSGP gets similar outcome on $ZG lawsuit then it will be disastrous for $ZG https://t.co/XuQhLm2gAQ If $CSGP gets similar outcome on $ZG lawsuit then it will be disastrous for $ZG https://t.co/XuQhLm2gAQ"  
[X Link](https://x.com/beyond_mental/status/1983535969937871350)  2025-10-29T14:06Z [----] followers, [----] engagements


"$GOOGL's SOTP (Source: JP Morgan). When you look at the individual components you realize what a growth machine $GOOGL is & how amazingly it grows 15%-18% from a $220bn base"  
[X Link](https://x.com/anyuser/status/1448007096906178570)  2021-10-12T19:26Z [----] followers, [----] engagements


"Channel checks are suggesting builders are increasing starts pace as Jan/Feb have been half as bad as they expected. Street is assuming catastrophic numbers it appears those have an upward bias now. If we are done with rate hikes that is another +ve. $NVR $LEN $DHI $PHM"  
[X Link](https://x.com/beyond_mental/status/1635427828526206976)  2023-03-13T23:49Z [----] followers, 43.3K engagements

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